New Delhi: In a major blow to the BJP government in the midst of ongoing elections, a recent university report claimed that around 50 lakh people lost their jobs since the Modi launched demonetisation in November 2016.

In its 146-page research report, Azim Premji University said that 50 lakh people lost jobs between 2016 and 2018 contrary to the BJP-led government’s promise of providing over 1 core jobs.

The report prepared using data from the Consumer Pyramids Survey of the Centre for Monitoring the Indian Economy (CMIE-CPDX) to understand the employment situation between 2016 and 2018 says the higher educated people are the most unemployed in India, with the majority of them in the age bracket of 20-24 years.

Among urban women, graduates are 10 per cent of the working age population but 34 per cent of the unemployed, the report said.

The age group 20-24 years is hugely over-represented among the unemployed. Among urban men, for example, this age group accounts for 13.5 per cent of the working age population but 60 per cent of the unemployed, it added.

CMIE-CPDX is a nationally representative survey that covers about 160,000 households and 522,000 individuals.

The latest report comes at a time when unemployment is one of the major issues in the ongoing elections. Meanwhile, the Congress came down heavily on the BJP over the issue of employment.

Former finance minister P Chidambaram said that the report was another confirmation that lakhs of jobs were lost after demonetisation.

"PM claims there is no unemployment in India. This is the problem if the PM will fly around the world but will not drive on the roads of India or walk on the streets of small towns and villages”, Chidambaram said.